I would like to hike down to Yosemite Valley via Yosemite Falls from Tioga Road. I know there are several routes to take. Which ones are better and why? How does this route compare to the Panorama Trail. I know it's a bit longer, but in terms of difficulty?

I like the route that starts at the Olmstead Point trail head
and heads southwest down Snow Creek Trail.

Don't go cross-country down Tenaya Canyon. It starts out nice, but requries technical descents down cliffs later on.

Another route is down from Porcupine Flat down the Yosemite
Falls Trail. It makes for a pretty long day though.

The Snow Creek Trail is easily doable in a day. It's comparable to the Panorama Trail. There's not as much uphill as the Panorama Trail, but it's a little longer. For an added bonus, you get a unique close-up view of Half Dome descending Snow Creek.